Invest For Future Benefits: Loading The Next Triggers

 

Hooked: How To Build Habit-Forming Products

 

Lesson Info

Invest For Future Benefits: Loading The Next Triggers

Let's move on to the last step of the hook the investment face and this is the part of the hook that I find is is probably the most frequently lean neglected where I see the most opportunity for companies to improve their businesses is by really considering how they can create a good investment with their users and so the definition of this investment phase is something that the user does write something that the user does in anticipation of a future benefit it's not about immediate gratification remember the action phase is about immediate gratification but the investment phases something the user does to get a reward someday in the future the point of the investment phase is to increase the likelihood of the next passed through the hook that's what the investment phase is all about increasing the likelihood of the next pass the hook and it does this in two ways the first way that investments increase the likelihood of the next pass is by loading the next trigger so this is something ...

that the user does on their own accord something that I do to bring myself back let me give an example when I use what's app for slack or any number of other messaging services when I invest in the platform by sending someone a message there's no immediate gratification right? I don't get any points I don't get any badges nothing really happens when I send someone a message but what I'm doing by investing in that platform by sending someone a message is that I'm loading the next trigger because what's gonna happen next. I'm going to get a reply, and that reply comes coupled with an external trigger, right? That's what? That little notification means that's an external trigger telling me to open up the app and passed through the hook once again. So the first way that investments increase the likelihood of the next pass to the hook is by loading the next trigger. The second way that investments increase the likelihood of the next passed through the hook is by storing value. Now storing value is a really big deal stored value is one of the reasons that I love working in technology products because unlike things in the physical world, these chairs, your clothing, your everything in these you know these books, everything in the physical world loses value with wear and tear it depreciates. The more we use it up. However, habit forming products should do the opposite habit. Forming products should appreciate in value. They should get better the more they're used. And they do this because of this principle of stored value. So, for example, the more content I put into my google drive, the better it becomes as my one and only cloud storage solution. The more data I give to a service like mint dot com, a personal finance software or pinterest, the more data I give these companies, the better they become for me, I could doom or with thes systems, the mohr data I give them so that if you were to log into my pinterest account, actually wouldn't be that interesting for you because it's been tailored based on my preferences on my data. Sorry followers followers is a form of investment that makes a product better with use because the bigger my follower account is, the better. That product becomes a way for me to reach other people, for me to reach my audience. And so of twitter tomorrow were to say, hey, guess what, twitter's no longer free you're going to start paying for it now, who is more likely to send them a payment is going to be someone with ten followers or someone with ten thousand followers, of course is going to be the person with ten thousand followers because they've stored all this value in the form of their follower account and finally, reputation. Reputation is a form of stored value that users can literally take to the bank because my reputation on sites like taskrabbit or ebay or airbnb determines what I can charge for my goods and surf. This is and how likely might believe one of these goods and one of these platforms after I've stored all this value in the form of reputation. It's kinda hard to do it all of a sudden, difficult to leave one of these platforms, even if a better platform comes along, because I've stored this reputation on these platforms. Okay, so now, it's gonna be your turn to get your users to invest. But I want you do next is to go back to your user flow. Remember that we've been using this now a few times to step one, two, three, four, five that users have to do to get relief to scratch the rich. And I want you to ask yourself where's, the bit of work that users d'oh to increase their likelihood of the next pass through the hook. Now, remember I told you earlier on that that that if there's lots of things you need users to do that are making the action phase too difficult. I told you to put that in a little bucket somewhere. This is where we bring it out after the reward through successive cycles. Not all at once, right? Nala once, but through successive cycles through the hook, this is where we ask them. To put something into the service. So with caroline's service around the restaurant hunting app, imagine the first time hey, I've got relief. I know I'm going to go to lunch right now, it's, where my friends going because I can see it on this app, but maybe the next time I use the product right after I know that before you leave, tell us about what you give us your location or give us your dietary preferences or give us a piece of information about, you know, do you prefer rewards or everyday discounts? I don't know something that the user puts it not all at once, but every time they pass through the app, they're putting in a little bit more investment time after time, take to make the service better with use. And, of course, the more we invest in it, the harder it is to leave that service. So I want you to brainstorm three ways that you could add thies small investments, thies, small bits of work that the user does every time they interact with your product, something small, they dio to load the next trigger, right, something that brings them selves back, something that loads the next trigger, and something that stores value content, data, followers, reputation one of these things that makes the product better and better with use

Class Description

Customers who come back save you time and money. You don’t have to expend as much energy attracting them – they already know you and what you do – and they are a more predictable source of revenue. Learn the science of creating a repeat customer in Hooked: How To Build Habit-Forming Products.

Nir is a writer and thinker whose primary focus is helping businesses unlock the power of habits. In this class, he’ll teach you how to build products and experiences that are inherently “sticky.” 


You’ll learn:

  • The psychology of triggers and how to build them into your product/service
  • How to use variable rewards to increase engagement
  • The stages of habit formation and how to optimize them for better retention

Nir will teach you how habits develop and he’ll show you how to apply those insights to your business – no matter what kind of service or products you sell. You’ll also learn about the common design patterns of habit-forming products.

If you want to lower the cost of doing business by increasing the number of repeat customers you work with, don’t miss Hooked: How To Build Habit-Forming Products. 

Reviews

a Creativelive Student
 

The information presented by Nir was excellent and pertinent to today's evolution of business development and success. This was beyond my expectation. There was great material that was stimulating and engaging.

Jason Casher
 

Loved it! Was thorough and gave a strong sense of direction, as well as clear methods to check to see if you are on right track.

Liza
 

Nir Eyal is great! Insightful, interesting course on how habits are created, established and reinforced.